- AR, RNDR, and LINK are approaching key trendline breakouts, signaling potential gains.
- A breakout from trendline resistance could lead to major gains in AR, RNDR, and LINK.
- AR targets a 260% rise, with RNDR and LINK aiming for 108% and 37% gains, according to the analyst.
Several altcoins, including AR, RNDR, and Chainlink, have shown promising signs of a potential breakout, according to recent analysis. These assets are currently trading below key trendlines, namely the Dollar Cost Averaging (DCA) zones, and a decisive move above these levels could trigger strong price actions.
Arweave (AR): Potential for a 260% Surge
Arweave (AR) has been trading within a descending trendline, with its price currently around $20.15. While the downtrend that began in May persists, the token is nearing a crucial support zone. Analysts suggest that a breakout could propel AR towards a target of $70, representing a remarkable 260% gain. Many consider AR to be in an accumulation phase as the trendline resistance tightens.
A confirmed break above the trendline could ignite strong buying activity. The chart highlights a substantial upward target, but the token needs to overcome the descending resistance before any significant price surge.
Render Token (RNDR): Eyeing a 100% Upside
Similar to AR, Render (RNDR) is also trading below a descending trendline, having steadily declined since May. The token is currently priced at $5.22. However, the chart indicates that RNDR is approaching a key support zone, much like AR, and could be on the cusp of breaking out of its downward trajectory.
The potential upside is considerable, with a target around $9.00, equating to a roughly 100% increase. The technical setup suggests that once the resistance trendline is breached, RNDR could see a substantial price jump.
Chainlink (LINK): Hints at a Possible 37% Increase
Chainlink (LINK) has also been trading beneath a prolonged descending trendline, with its price hovering around $10.50. The chart suggests that LINK, too, is in an accumulation zone, similar to AR and RNDR. The potential breakout target for LINK is $13.50, a 37% increase from its current price.
LINK is edging closer to overcoming the trendline resistance. Once this happens, LINK could witness a surge in buying interest, driving the price towards the projected target. While the downtrend has persisted for several months, the technical indicators now hint at a possible reversal.
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